Bankruptcy is Not a Dirty Word

While bankruptcy has become business as usual for businesses  personal bankruptcies are still highly stigmatized.

I don’t think I’ve met more than a hand-full of people who aren’t troubled, or even traumatized, by the prospect of facing bankruptcy, even if their bankruptcies are the result,  of the actions of employers, or health care providers.

Individual debtors facing bankruptcy often feel further traumatized by a system which treats them as inept at best, or criminal at worst. Having learned something from the debtors’ prisons of Europe, as well as the “broken bench” of the guild system, both of which left a debtor’s family dependent on the alms of the church or wards of the state, our founders realized that aallowing a debtor to periodically discharge overwhelming debt, and retain the tools to support his family and rebuild his financial future is a better outcome for us all.